At least a half-dozen initiatives and referenda appear headed for the ballot, all with potentially heavy economic effects that will generate multi-million-dollar campaigns for and against. Chief among them, in terms of impact inside and outside the state, is the fast food industry referendum to abort a unique regulatory system that, if upheld by voters, could expand to other states and other consumer sectors.
QSR Magazine 1/30
A persistent labor shortage is testing quick-service, fast-casual, and full-service restaurants. There were 500,000 fewer restaurant workers in October 2022 compared to February 2020, and tens of thousands of hospitality jobs are now being advertised in an uber-competitive hiring market.
Food Industry Policy
Washington Post 1/30
Environmentalists rejoiced when New York Gov. Kathy Hochul (D) endorsed banning fossil fuel appliances in new buildings by 2025 for small buildings, including single-family homes, and by 2028 for larger or commercial ones.
National Restaurant Association 1/27
After being introduced to both the Senate and the House in Dec. 2022, the Restaurant Revitalization Tax Credit Act is being reintroduced to the new 118th Congress by Sens. Ben Cardin (D-Md.), Sherrod Brown (D-Ohio) and Patty Murray (D-Wash.). The legislation would create a special tax credit in 2023 for those who applied for, were eligible for, but did not receive a Restaurant Revitalization Fund grant because the U.S. Small Business Administration ran out of money.
On the Side
CBS Los Angeles 1/30
Caught on camera: a string of restaurant break-ins in Long Beach. At least three restaurants were hit over the weekend: The Breakfast Bar, Speak Cheezy, and Baja Sonora Mexican Restaurant.
Restaurant Dive 1/30
Franchisees will continue to push franchisors to boost store-level profitability after a difficult year, especially as many brace for high development and operating costs in 2023.